Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: empanelment :: VAT RATES :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: cpt :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Latest Circulars »
 Agency Commission for GST receipt transactions
 Inclusion of “Utkarsh Small Finance Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934
  Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission
 Auction for Sale (Re-issue) of Government Stock (GS) November 13, 2017
 Auction of Government of India Dated Securities November 13, 2017
 Cessation of “Commonwealth Bank of Australia” as a banking company within the meaning of sub–section (2) of Section 36 (A) of Banking Regulation Act, 1949
 RBI releases Data on India’s International Trade in Services: September 2017
 Inclusion of “Au Small Finance Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934
 Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs
 RBI-Statement on Developmental and Regulatory Policies - October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons
 Risk Management and Inter-Bank Dealings – Simplified Hedging Facility

Facilities to NRIs/PIOs and Foreign Nationals Liberalisation - Reporting Requirement
February, 19th 2014

RBI/2013-14/496
A.P (DIR Series) Circular No. 106

February 18, 2014

To,
All Category- I Authorised Dealer Banks

Madam / Sir,

Facilities to NRIs/PIOs and Foreign Nationals – Liberalisation - Reporting Requirement

Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 12 dated November 16, 2006 in terms of which the lock-in period of 10 years for remittance of sale proceeds of immovable property was dispensed with and AD Category - I banks could allow remittances out of balances in NRO accounts including sale proceeds of immovable property provided the amount does not exceed USD one million per financial year (April-March). In terms of the circular ibid, AD - Category I banks were required to furnish on a quarterly basis, to the Chief General Manager-in-Charge, Foreign Exchange Department, Foreign Investments Division (NRFAD), Reserve Bank of India, Central Office, Mumbai-400001 within 10 days of the reporting quarter, a statement on the number of applicants and total amount remitted, as per proforma annexed to it.

2. With a view to having access to more real time data, it has been decided to collect this information on a monthly basis. Accordingly, AD - Category I banks may furnish on a monthly basis, a statement on the number of applicants and total amount remitted, as per proforma annexed, to the Chief General Manager-in-Charge, Foreign Exchange Department, Foreign Investments Division (NRFAD), Reserve Bank of India, Central Office, Mumbai-400001 within 7 days of the end of the reporting month. The data may be sent preferably by e-mail as per the proforma.

3. It may be noted that the proforma has been revised to also include “Transfers from NRO to NRE account”.

4. AD Category- I banks may bring the contents of the circular to the notice of their constituents concerned.

5. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(C D Srinivasan)
Chief General Manager


Annexure

Statements indicating the details of remittances made by NRIs/PIOs Foreign nationals out of the NRO accounts for the month ended

Name of the bank:

No. of remittance on account of

Amount in USD

Sale proceeds of immovable property

Other assets

Transfers from NRO to NRE account

Total

Sale proceeds of immovable property

Other assets

Transfers from NRO to NRE account

Total

 

 

 

 

 

 

 

 

Signature of the authorised official:

Name and Designation:

Date:

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions